Are The Halifax A Safe Bet For Financial Advice?

[piggynose]

I ask because i´ve got to do a pension transfer, but was told to seek financial advice first before proceeding. My pension company who hold my pension funds, have sent me a form full of typical financial jargon, and has a page attached devoted to a financial adviser.
thanks in advance

[bednobs]

well its not independent

[alavahalf]

Tha Halifax will only offer you advice on their own products .. so not a good idea.
Better to do a bit of research and find an Independant Financial/Pensions adviser.
Firstly check if they will offer a free consultation and then check their fees. Find out if they charge by the hour, or if they charge a percentage of the sum intended to be transfered. Best to see what you think after an initial meeting before commiting to complete a transfer.

[ubasses]

Halifax do not give financial advice, but they are part of the Lloyds bank group who do have Independant Advisers, they see customers who have over £100,000. So if your pension pot is over than sum they may be worth thinking about.

[mikey4444]

Piggy....see an IFA....an Independent Financial Adviser.

But you will be charged for any advice that you receive.

[fiction-factory]

It may help us if you can tell us what type of pension you currently have ( company scheme or private pension) and the reason you feel you need to do a transfer. Also where do Halifax fit in? Your existing pension scheme are understandably wanting you to get financial advice- they are worried you might make a legal claim later they shouldn't have let you transfer out

[piggynose]

Ff, its called an option 32 transfer policy from the royal London, yes Its a company pension.

[fiction-factory]

Okay. Well I'm not surprised they want you to seek financial advice. It's generally better to leave money in a company pension unless the circumtances are exceptional. And I think if the fund is worth over £20000 it is compulsory by law to get a finacial adviser to endorse the move .

[piggynose]

Ff, luckily ive got a trip booked to visit UK next month, 3 nights,in Glasgow. Will this
Be enough time to see an FA?

[piggynose]

I have found a couple of financial advisors, and their fees are pretty exorbitant, to say the least. It seems i have no choice but to proceed.